From Property Reports:
"According to the Wisconsin IPAS system, 151 documents were recorded
during March of 2014 for the City of Racine. There were 32 foreclosures,
and most homes sold for tens of thousands less than the assessed value.
So far in 2014 there have been 97 foreclosures in the City of Racine
during the first 90 days of 2014."
Read more: http://racinesales.wordpress.com/2014/04/24/march-2014-property-report/
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On an interesting note, on April 11, 2014 the Arcade Apartments were sold for $4,050,000. That's the property that also housed the former West Marine store at 413 Main St. The property was assessed at $3,440,000, so it got a $610,000 premium! It was bought by some Chicago Lawyers for investment purposes -
The Corporation that sold it, Main-Lake out of Plano Texas, is owned by Kimberly-Clark.
Interesting. Only time will tell if it was a wise investment.
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